CAR T Cell Therapy Market Major Players
Key players leading the global CAR T cell therapy market include Pfizer, Inc. (US), Novartis AG (Switzerland), Kite Pharma (US), Autolus Therapeutics PLC (UK), Cellectis (France), CARsgen Therapeutics (China), Sorrento Therapeutics (US), Juno Therapeutics (US), Legend Biotech (US), and Mustang Bio (US), among others.
CAR T Cell Therapy Market Analysis
The Chimeric Antigen Receptor (CAR) T cell therapy market is recognized as an effective treatment for hematologic cancer such as leukemia, lymphoma, and multiple myeloma. The therapy appears to be effective for the treatment of adult among patients with relapsed/refractory multiple myeloma, or refractory mantle cell lymphoma (MCL) resistant to prior therapies.
Although there are many manufacturers active in the market with more than one FDA-approved CAR T-cell therapy, the need for new treatments for patients with relapsed/refractory MCL remains significant. This attributes to the prevalence of hematologic cancer, which is rising at an alarming rate. Consecutively, the CAR T Cell Therapy market is garnering tremendous traction on a global level.
According to Market Research Future (MRFR), the global CAR T cell therapy market is expected to reach a valuation of USD 8716.06 MN by 2025, registering a massive 58.52% CAGR throughout the forecast period (2017-2025).Increasing funding support from the governments as well as from the private entities for the R&D to develop and improve the CAR T cell technology predominantly drives the growth of the market.
Additionally, factors such as advances in biotechnology and rising numbers of biotech companies are influencing the growth in the CAR T cell therapy market. Improving regulatory framework and regulations of tissue engineering, alongside the favorable outcomes that the therapy offers in cancer treatments pushing up the growth of the market. Furthermore, the growing pharmaceutical industry, alongside the rise in the number of cell therapy clinical studies, substantiates the growth of the market.
Conversely, challenges occurring during R&D and the high cost associated with the development and reconstruction of cells are two of the significant growth impeding factors affecting the market heath. Also, some of the side-effects reported during CAR T-cell therapy are hampering the market growth.
CAR T Cell Therapy Market – Segmentation
MRFR has segmented the market into three main dynamics to widen the scope of understanding,
By Target Antigen: CD19, CD22, and others.
By Application : Acute Lymphoblastic Leukemia, Diffuse Large B-Cell Lymphoma, and others.
By Regions: Europe, Americas, Asia Pacific, Middle East & Africa, and Rest-of-the-World.
Global CAR T Cell Therapy Market – Regional Analysis
North America is showing chances for retaining its dominance by holding the largest share in the global CAR T cell therapy market throughout the review period. Rapidly increasing cancer cases are acting as a major driving force for regional market growth. Moreover, well-defined per capita healthcare expenditure and rising numbers of care facilities offering the therapy alongside the availability of advanced devices contribute to the growth of the regional market.
The US, backed by its vast advancements in CAR T cell therapy industry, is expected to hold the largest share in the regional as well as in the global market. Furthermore, factors such as the presence of many well-established players and the availability of funding for R&D for the development & improvements in the therapy treatment impact the growth of the regional market, positively. The North American CAR T cell therapy market is further expected to grow phenomenally between 2017 to 2025, heading with the successful advancements in the therapy.
The CAR T cell therapy market in the European region accounts for the second-largest market globally, expanding at a phenomenal CAGR. The growing prevalence of hematologic cancer, such as leukemia, lymphoma, and multiple myeloma, plays an important role in the development of the regional market. Besides, the availability of technologically advanced devices and the proliferating healthcare sector in the region drive the growth of the market.
Also, increasing healthcare expenditures and increasing R&D activities in biotechnology led by the improving economy and the government support in the region contribute to the market growth. Driven by the accessibility to the advanced technology, propel the growth of the European CAR T cell therapy market.
The Asia Pacific can be defined as emerging market for CAR T cell therapy globally. Funding support by public & private sectors in the development, and to bring improvements in the therapy, drive the market in the region. Moreover, vast advancements in biotechnology and cell reconstructive methods are pushing the growth of the regional market.
Furthermore, improving economic conditions impacts the regional market growth, positively, driving the healthcare sector. Also, rapid advancements in healthcare technology and the large unmet needs would foster the growth of the APAC CAR T cell therapy market.
Global CAR T Cell Therapy Market – Competitive Analysis
Highly competitive, the CAR T Cell Therapy market appears to be widely expanded and fragmented due to the presence of several players well-established in international markets as well. To gain a larger competitive advantage, these players incorporate strategic initiatives such as mergers & acquisitions, collaborations, expansion, and product/technology launch. Due to the rapid acquisitions of local players by multinational companies, the structure of the market is changing. The increasing market competition is encouraging multinational companies to use the acquisition strategy to increases the profit while minimizing the competition significantly.
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CAR T Cell Therapy Industry, Innovation & Related News
December 9, 2019 —- Sanofi S A (France), a multinational pharmaceutical company, announced the acquisition of Synthorx, Inc. (the U), a biotechnology companyto bolster its immuno-oncology pipeline.The acquisition is aligned with Sanofi’s strategy to build a portfolio of high-quality assets and to lead with innovations. Additionally, it fits perfectly with the company’s goal to build an oncology franchise with potentially practice-changing medicines & novel combinations.
Synthorx’s exceptionally novel discovery platform has already become a foundation of the next generation of immuno-oncology combination therapies. For instance, Sanofi’s THOR-707 can be combined with T-cells and natural killer cells in the body for treating cancer.